Analysis Market on 26th & 27th July 2018

Hi guys..

Today we want to share our analysis market on 26th & 27th July 2018. Yes, this is the past analysis from our Telegram Channel AlgoGold.com.

This is our analysis for the next journey for gold. Yup, we target gold will go to price $1250 at yellow zone. But still need to waiting for the confirmation..

For this targeted, just for short and mid term only after market show the confirmation because for the long term, market gold still on bearish mood. 

Updated Chart…

Gold make rejection on yellow zone that we drawn before this. And also, market it create a chart pattern double top on the resistance line. 

Mostly, after make a double top, price will go down to support line. After this pattern, it give a signal that market will dive again. Keep focus your eyes on green color line. It means gold in sideway mood and waiting for the another signal to comeout from the sideway mood. 

So we will zoom in on timeframe H1 for the clear vision.

Updated Chart…

If youre notice, candle also break on the line of symmetrical triangle before that we drawn before this. For the next target, price will go to the support line.  

Updated Chart…

Wow!!

Strong rejection on the support line. Strong rejection will make price turn up again. 

As you can see when we zoom it. The white candle show how strong buyer in that transaction. Like buyer already standby at the support line to take the advantages on that price.

If you change to the time frame H4, it will show like this.

Updated Chart…

This is how we analyze on volatile market like gold. 

After use any strategy from technical analysis, we still need to follow what are the trend for the market and wait for the confirmation before take any action. 

Basically,  if price can breakout from the resistance and support line, so market will go further. So, normally trader will take the position at the breakout line. 

Otherwise, if trader already know the targeted for long term position, it will take order early before the breakout line. Maybe on the rejection before the breakout. The rejection will be strong when the candle on the rejection line also shown that candle for retrace signal.

That all for today. Happy trading guys..